# ASHFORD CAPITAL MANAGEMENT INC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 897070. Source: https://holderbook.com/funds/897070-ashford-capital-management-inc/

- Reported value: $932.6M
- Positions: 107
- Weight of the ten largest: 36.4%
- Filed: 2026-08-21

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| LIGAND PHARMACEUTICALS INC | [LGND](https://holderbook.com/stocks/LGND/) | $53.8M | 170,236 | 5.8% | 10 |
| GLOBALSTAR INC | [GSAT](https://holderbook.com/stocks/GSAT/) | $41.4M | 509,700 | 4.4% | 6 |
| RED VIOLET INC | [RDVT](https://holderbook.com/stocks/RDVT/) | $36.7M | 575,194 | 3.9% | 20 |
| VANGUARD INDEX FDS | [VTI](https://holderbook.com/stocks/VTI/) | $35.9M | 97,062 | 3.9% | 23 |
| STONEX GROUP INC | [SNEX](https://holderbook.com/stocks/SNEX/) | $32.7M | 276,036 | 3.5% | 14 |
| SUPERNUS PHARMACEUTICALS | [SUPN](https://holderbook.com/stocks/SUPN/) | $28.5M | 613,783 | 3.1% | 31 |
| VICOR CORP | [VICR](https://holderbook.com/stocks/VICR/) | $28.5M | 74,920 | 3.1% | 31 |
| ACUITY INC | [AYI](https://holderbook.com/stocks/AYI/) | $27.9M | 73,959 | 3.0% | 7 |
| UFP TECHNOLOGIES INC | [UFPT](https://holderbook.com/stocks/UFPT/) | $27.8M | 105,020 | 3.0% | 5 |
| CLEAR SECURE INC | [YOU](https://holderbook.com/stocks/YOU/) | $26.7M | 479,082 | 2.9% | 3 |
| CELLEBRITE DI LTD | [CLBT](https://holderbook.com/stocks/CLBT/) | $26.0M | 1,778,347 | 2.8% | 11 |
| JFROG LTD | [FROG](https://holderbook.com/stocks/FROG/) | $24.7M | 271,708 | 2.6% | 9 |
| EQUINIX INC | [EQIX](https://holderbook.com/stocks/EQIX/) | $23.2M | 22,280 | 2.5% | 12 |
| HEALTHEQUITY INC | [HQY](https://holderbook.com/stocks/HQY/) | $22.9M | 253,441 | 2.5% | 31 |
| SKYWARD SPECIALTY INS GROUP | [SKWD](https://holderbook.com/stocks/SKWD/) | $21.5M | 368,052 | 2.3% | 12 |
| INTERDIGITAL INC | [IDCC](https://holderbook.com/stocks/IDCC/) | $21.2M | 74,953 | 2.3% | 3 |
| INCYTE CORP | [INCY](https://holderbook.com/stocks/INCY/) | $20.7M | 182,177 | 2.2% | 31 |
| LANDBRIDGE COMPANY LLC | [LB](https://holderbook.com/stocks/LB/) | $18.6M | 234,860 | 2.0% | 2 |
| VIPER ENERGY INC | [VNOM](https://holderbook.com/stocks/VNOM/) | $18.1M | 426,070 | 1.9% | 2 |
| ABACUS GLOBAL MGMT INC | [ABX](https://holderbook.com/stocks/ABX/) | $17.9M | 1,670,673 | 1.9% | 2 |
| AXON ENTERPRISE INC | [AXON](https://holderbook.com/stocks/AXON/) | $16.5M | 29,515 | 1.8% | 31 |
| BERKSHIRE HATHAWAY INC DEL | [BRKA](https://holderbook.com/stocks/BRKA/) | $16.5M | 22 | 1.8% | 31 |
| FRANCO NEV CORP | [FNV](https://holderbook.com/stocks/FNV/) | $16.1M | 77,196 | 1.7% | 31 |
| VOX ROYALTY CORP | [VOXR](https://holderbook.com/stocks/VOXR/) | $16.0M | 3,392,440 | 1.7% | 4 |
| PORCH GROUP INC | [PRCH](https://holderbook.com/stocks/PRCH/) | $14.7M | 976,320 | 1.6% | 4 |
| GENEDX HOLDINGS CORP | [WGS](https://holderbook.com/stocks/WGS/) | $13.9M | 201,986 | 1.5% | 6 |
| ATLAS ENERGY SOLUTIONS INC | [AESI](https://holderbook.com/stocks/AESI/) | $12.7M | 762,310 | 1.4% | 9 |
| KINSALE CAP GROUP INC | [KNSL](https://holderbook.com/stocks/KNSL/) | $11.4M | 34,490 | 1.2% | 26 |
| UNION PAC CORP | [UNP](https://holderbook.com/stocks/UNP/) | $11.2M | 41,345 | 1.2% | 31 |
| DUTCH BROS INC | [BROS](https://holderbook.com/stocks/BROS/) | $10.8M | 150,700 | 1.2% | 4 |
| PALO ALTO NETWORKS INC | [PANW](https://holderbook.com/stocks/PANW/) | $10.6M | 31,191 | 1.1% | 2 |
| SPORTRADAR GROUP AG | [SRAD](https://holderbook.com/stocks/SRAD/) | $10.6M | 705,690 | 1.1% | 3 |
| QUANTUM CORP | [QMCO](https://holderbook.com/stocks/QMCO/) | $10.6M | 1,039,200 | 1.1% | 1 |
| SPDR INDEX SHS FDS | [FEZ](https://holderbook.com/stocks/FEZ/) | $8.9M | 129,014 | 1.0% | 24 |
| ISHARES TR | [SGOV](https://holderbook.com/stocks/SGOV/) | $8.9M | 87,978 | 0.9% | 1 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $8.5M | 23,691 | 0.9% | 12 |
| CAVCO INDS INC DEL | [CVCO](https://holderbook.com/stocks/CVCO/) | $8.4M | 13,730 | 0.9% | 31 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $8.1M | 10,828 | 0.9% | 24 |
| ISHARES TR | [IEUR](https://holderbook.com/stocks/IEUR/) | $7.8M | 103,969 | 0.8% | 24 |
| REPOSITRAK INC | [TRAK](https://holderbook.com/stocks/TRAK/) | $6.9M | 768,760 | 0.7% | 6 |
| TRANSCAT INC | [TRNS](https://holderbook.com/stocks/TRNS/) | $6.8M | 73,500 | 0.7% | 1 |
| ODDITY TECH LTD | [ODD](https://holderbook.com/stocks/ODD/) | $6.2M | 411,685 | 0.7% | 12 |
| POSTAL REALTY TRUST INC | [PSTL](https://holderbook.com/stocks/PSTL/) | $6.1M | 248,650 | 0.7% | 1 |
| ENERGY TRANSFER L P | [ET](https://holderbook.com/stocks/ET/) | $6.0M | 315,163 | 0.6% | 16 |
| TYLER TECHNOLOGIES INC | [TYL](https://holderbook.com/stocks/TYL/) | $5.9M | 20,154 | 0.6% | 31 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $5.6M | 14,935 | 0.6% | 31 |
| ENTERPRISE PRODS PARTNERS L | [EPD](https://holderbook.com/stocks/EPD/) | $5.4M | 146,610 | 0.6% | 18 |
| ISHARES TR | [ICSH](https://holderbook.com/stocks/ICSH/) | $5.2M | 103,715 | 0.6% | 1 |
| TERADYNE INC | [TER](https://holderbook.com/stocks/TER/) | $5.1M | 10,499 | 0.5% | 28 |
| VERTEX PHARMACEUTICALS INC | [VRTX](https://holderbook.com/stocks/VRTX/) | $4.5M | 9,078 | 0.5% | 31 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $3.7M | 7,461 | 0.4% | 31 |
| VANECK ETF TRUST | [REMX](https://holderbook.com/stocks/REMX/) | $3.4M | 38,858 | 0.4% | 5 |
| ISHARES INC | [EWW](https://holderbook.com/stocks/EWW/) | $3.4M | 45,382 | 0.4% | 7 |
| ISHARES INC | [EWZ](https://holderbook.com/stocks/EWZ/) | $3.4M | 98,408 | 0.4% | 7 |
| AMPLIFY ETF TR | [HACK](https://holderbook.com/stocks/HACK/) | $3.4M | 32,097 | 0.4% | 10 |
| INTUITIVE SURGICAL INC | [ISRG](https://holderbook.com/stocks/ISRG/) | $3.1M | 7,727 | 0.3% | 9 |
| ISHARES TR | [IWO](https://holderbook.com/stocks/IWO/) | $3.1M | 7,798 | 0.3% | 4 |
| TRAVELERS COMPANIES INC | [TRV](https://holderbook.com/stocks/TRV/) | $2.9M | 8,833 | 0.3% | 4 |
| ADMA BIOLOGICS INC | [ADMA](https://holderbook.com/stocks/ADMA/) | $2.8M | 337,220 | 0.3% | 2 |
| RBC BEARINGS INC | [RBC](https://holderbook.com/stocks/RBC/) | $2.8M | 4,382 | 0.3% | 4 |
| KINDER MORGAN INC DEL | [KMI](https://holderbook.com/stocks/KMI/) | $2.8M | 87,493 | 0.3% | 8 |
| ISHARES TR | [FXI](https://holderbook.com/stocks/FXI/) | $2.8M | 88,147 | 0.3% | 5 |
| TWILIO INC | [TWLO](https://holderbook.com/stocks/TWLO/) | $2.7M | 13,095 | 0.3% | 1 |
| EVERPURE INC | [P](https://holderbook.com/stocks/P/) | $2.7M | 34,132 | 0.3% | 6 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $2.5M | 18,436 | 0.3% | 31 |
| COSTAR GROUP INC | [CSGP](https://holderbook.com/stocks/CSGP/) | $2.5M | 88,100 | 0.3% | 31 |
| MORGAN STANLEY | [MS](https://holderbook.com/stocks/MS/) | $2.5M | 11,820 | 0.3% | 6 |
| CORNING INC | [GLW](https://holderbook.com/stocks/GLW/) | $2.4M | 9,496 | 0.3% | 10 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $2.3M | 4,106 | 0.2% | 10 |
| TKO GROUP HOLDINGS INC | [TKO](https://holderbook.com/stocks/TKO/) | $2.2M | 10,822 | 0.2% | 8 |
| TEXTRON INC | [TXT](https://holderbook.com/stocks/TXT/) | $2.1M | 23,250 | 0.2% | 1 |
| MERCADOLIBRE INC | [MELI](https://holderbook.com/stocks/MELI/) | $2.0M | 1,205 | 0.2% | 31 |
| FURY GOLD MINES LIMITED | [FURY](https://holderbook.com/stocks/FURY/) | $2.0M | 3,730,015 | 0.2% | 20 |
| DANAHER CORP DEL | [DHR](https://holderbook.com/stocks/DHR/) | $1.9M | 10,123 | 0.2% | 31 |
| COPART INC | [CPRT](https://holderbook.com/stocks/CPRT/) | $1.9M | 67,039 | 0.2% | 31 |
| ISHARES TR | [MCHI](https://holderbook.com/stocks/MCHI/) | $1.8M | 35,934 | 0.2% | 1 |
| UIPATH INC | [PATH](https://holderbook.com/stocks/PATH/) | $1.7M | 156,713 | 0.2% | 3 |
| SSGA ACTIVE ETF TR | [SRLN](https://holderbook.com/stocks/SRLN/) | $1.7M | 41,956 | 0.2% | 1 |
| VERIZON COMMUNICATIONS INC | [VZ](https://holderbook.com/stocks/VZ/) | $1.7M | 39,880 | 0.2% | 2 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $1.7M | 13,034 | 0.2% | 31 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $1.6M | 6,700 | 0.2% | 31 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $1.6M | 19,582 | 0.2% | 31 |
| VICI PPTYS INC | [VICI](https://holderbook.com/stocks/VICI/) | $1.5M | 56,580 | 0.2% | 21 |
| INVESCO EXCH TRADED FD TR II | [BKLN](https://holderbook.com/stocks/BKLN/) | $1.2M | 61,256 | 0.1% | 1 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $1.1M | 10,133 | 0.1% | 8 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $837.7K | 2,895 | 0.1% | 25 |
| GAMCO GLOBAL GOLD NAT RES & | [GGN](https://holderbook.com/stocks/GGN/) | $706.6K | 146,000 | 0.1% | 30 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $578.0K | 1,530 | 0.1% | 5 |
| KOPIN CORP | [KOPN](https://holderbook.com/stocks/KOPN/) | $527.7K | 117,800 | 0.1% | 1 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $499.8K | 3,015 | 0.1% | 23 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $494.7K | 1,400 | 0.1% | 19 |
| MILLER INDS INC TENN | [MLR](https://holderbook.com/stocks/MLR/) | $466.5K | 9,120 | 0.1% | 13 |
| VERTIV HOLDINGS CO | [VRT](https://holderbook.com/stocks/VRT/) | $435.3K | 1,300 | 0.0% | 4 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $431.7K | 1,700 | 0.0% | 31 |
| SHOPIFY INC | [SHOP](https://holderbook.com/stocks/SHOP/) | $411.0K | 3,600 | 0.0% | 14 |
| DATADOG INC | [DDOG](https://holderbook.com/stocks/DDOG/) | $383.2K | 1,472 | 0.0% | 1 |
| GLOBAL X FDS | [QYLD](https://holderbook.com/stocks/QYLD/) | $368.6K | 20,000 | 0.0% | 5 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $365.8K | 305 | 0.0% | 19 |
| INTERNATIONAL BUSINESS MACHS | [IBM](https://holderbook.com/stocks/IBM/) | $347.6K | 1,236 | 0.0% | 18 |
| AURORA INNOVATION INC | [AUR](https://holderbook.com/stocks/AUR/) | $341.0K | 50,000 | 0.0% | 9 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +21.7% | +14.8% | +6.9% | 100% |
| Q1 2026 | -7.1% | -4.6% | -2.5% | 98% |
| Q4 2025 | +3.1% | +2.4% | +0.7% | 100% |
| Q3 2025 | +5.6% | +7.8% | -2.3% | 100% |
| Q2 2025 | +9.1% | +10.5% | -1.3% | 100% |
| Q1 2025 | +25.3% | -4.6% | +29.8% | 100% |
| Q4 2024 | +7.7% | +2.1% | +5.5% | 100% |
| Q3 2024 | +9.5% | +5.4% | +4.1% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $932.6M | 107 |
| Q1 2026 | $809.2M | 99 |
| Q4 2025 | $897.7M | 109 |
| Q3 2025 | $897.8M | 110 |
| Q2 2025 | $851.1M | 102 |
| Q1 2025 | $775.5M | 99 |
| Q4 2024 | $847.6M | 101 |
| Q3 2024 | $801.3M | 102 |
| Q2 2024 | $740.6M | 97 |
| Q1 2024 | $739.3M | 91 |
| Q4 2023 | $746.4M | 93 |
| Q3 2023 | $679.3M | 91 |